TRX’s USD Exchange Rate Jumps 270% Higher on FTX After Exchange Brokers Deal With Tron

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At around 12:48 pm (ET) on Thursday, troubled exchange FTX revealed that it has formed an exclusive feature with Tron. The deal allows holders of specific Tron-based coins to withdraw tokens to external wallets in a 1:1 ratio. While coin market aggregation sites say that Tron tapped a high of $0.06 per token on Thursday, Tron rose to a high of $2.49 per token against the US Dollar on FTX.

Tron exchange rate balloons on FTX after special feature installation

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Troubled crypto exchange FTX has been the center of much confusion and speculation as the world’s largest crypto exchange Binance explained that it will dump all its FTX (FTT) tokens. Four days later, FTX International has effectively halted withdrawals and the community suspects the exchange is insolvent.

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However, on November 10, 2022, Tron founder Justin Sun Told His team was working round the clock to help ease the situation with FTX. the sun too commented That he is taking steps to help FTX. The founder of Tron said:

This is only the initial step towards a complete solution that is being prepared to revive and return to normalcy for all FTX users. I greatly appreciate the collaborative work between [FTX] Team.

Then on Thursday at 12:48 PM (ET), FTX tweeted that it had struck a deal with Tron and that users would be allowed to withdraw specific Tron-based tokens.

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“We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders” clean startTo swap BTT, JST, SUN, and HT assets from an FTX 1:1 to an external wallet, “Exchange Explained,

Tron's USD exchange rate jumps 285% higher on FTX after exchange brokered deal with Tron
clean start,USDT 30-minute chart via FTX on November 10, 2022 at 8:08 p.m. (ET). clean start Currently 0.258 . exchanging hands for USDT or 0.288 nominal US dollars per unit depending on the trading pair. At the time of writing, the actual exchange rate of Tron on every other exchange is $0.057 per unit.

The deal with Tron is also mentioned on ftx.com and the website notes that it is not adding new customers and withdrawals are currently on hold. Users are still trading on FTX and tokens clean startBTT, JST, SUN, and HT are seeing a lot of action.

Tron (clean start) reached $2.49 per token On the exchange as per the trading engine of the web portal. At the time of writing, on Thursday at 8:00 p.m. (ET), clean start exchanging hands for $0.288 per unit on FTX.


While the Tron-based token could be a means of withdrawing for FTX users, the deal isn’t so sweet for those looking to swap out other coins to exit with Tron (clean start) for example, $0.288 per unit is 80.20% higher than the current global clean start exchange rate $0.057 per unit,

higher clean start As FTX goes, the loss is just as bad for those trying to escape the clutches of FTX like this. Tron-based token SUN is also up 168.87% on FTX, and token JST has jumped 1,346.57% on the exchange in 24 hours.

What do you think about the significant jump in the value of Tron tokens on troubled exchange FTX? Let us know what you think about this topic in the comment section below.

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Credit : news.bitcoin.com

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